Shiba Inu price analysis for July 13, 2022, confirms that the 2nd biggest meme coin in the crypto market remains sluggish after retaining the price action above the $0.000010 price region which is an area of major support. Furthermore, it is clear that the SHIB token aims to break above the $0.000011 price region and turn the $0.000012 price level into support. However, to do this, the bulls need to take over the price action of the token and as the buying volume is currently dry in the market.
Furthermore, as noted in our SHIB price analysis for July 12, 2022, there are considerable chances of the meme coin retesting lower price regions in the near future because the buying demand in the market remains low. However, Shiba Inu has retained its position as the 14th biggest crypto in the market.
The data from CoinMarketCap shows that the trading volume for SHIB has dropped by 18.33% in the last 24 hours, while the market cap of the token has surged by 0.81% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.04876, while the Market Dominance of the token rests at 0.64%.
The daily candle for Shiba Inu opened at a price of $0.00000991 and reached a daily high of $0.00001039. Moreover, the daily low for the token stands at a price of $0.00000982. The price of 1 SHIB at the time of writing is $0.00001027.
Shiba Inu price analysis for July 13, 2022, will take into consideration the data from the indicators integrated into the daily chart below.
Source: TradingView
The RSI indicator reads a value below 49 which means that the bulls are aiming to take over.
The MACD line has broken below the signal line which means that a bearish divergence can be confirmed for Shiba Inu.
The Shiba Inu price action is situated in the lower region of the Bollinger Bands and a breakout into the bearish region is possible.
Shiba Inu price analysis for July 13, 2022, ends on a sluggish note as SHIB aims to retest $0.000010 support.
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